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Updated over 3 years ago on . Most recent reply
Paying down mortgages
Hello fellow investors! I bought my first investment property 3 years ago for 305K; I’ve completely renovated both units ceiling to floor. Refinanced this year:
286,800 - 1707$ - 3.62% Income 4140$
I bought another this winter:
215,853 - 1289$ - 2.86% Income 3220$
Would it make more sense to pay the one with higher interest or lowest balance? I want to buy a third property/land to build my own home/buy my own home in the next year, haven’t decided. I feel there is more equity in the one with the big balance so I was leaning more toward the higher interest one anyway. Thanks for any help ahead of time!